Director, Crypto-Asset Risk Management
STANDARD CHARTERED BANK
Banking and Finance, Information Technology, Risk Management
Permanent, Full Time
S$16500 - S$23000
About Standard Chartered
We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.
To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and Never settle - as well as our brand promise, Here for good.
We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.
SC Ventures (“SCV”) was established in March of 2018 with the purpose of “Rewiring the DNA in Banking” by bringing three distinct areas together:
The eXellerator labs, enabling innovation at large in the Bank by supporting:
Entrepreneurially-minded colleagues as “Intrapreneurs”, developing ideas to products, services or new business models.
Collaboration with fintech companies, supported by the SC Ventures FintechBridge, Proof of Concept (“POC”) framework and POC funding.
Client engagement on co-creation activities.
The Innovation Investment Fund (“Fund”), USD100m allocated to acquire minority stakes in fintech companies (“fintechs”) whose technology has been successfully validated in the Group and is progressing to production (i.e., continuing use), subject to commercial due diligence.
Venture building, exploring new business models (“ventures”), with the objective of providing ‘optionality’ for the Group in the way it engages existing and new customers and markets. These adopt a start-up model, operating independently of the Group’s existing businesses, funded in a venture capital fashion, and under a different governance and risk management framework.
There are c.65 team members (excluding individual ventures), including dedicated colleagues from the Group’s support functions, based in Singapore, Hong Kong, Shanghai, Nairobi, London and San Francisco.
Responsible for supporting a culture of good conduct in the Crypto Asset Risk Management team.
Regulatory & Business Conduct
• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Maintain an open and cooperative relationship in dealings with regulators.
• Responsible for delivering the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Support the development of the Group Crypto-Asset Risk Management Approach to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.] *
• Collaborate with the Crypto-Asset Risk Management team to identify, escalate, mitigate and resolve risk, conduct and compliance matters which relate to Crypto Asset Risk Management.
People and Talent
• Foster an open environment to stimulate creativity and develop innovative solution to supports banks aspiration for Crypto-Assets.
• Support the delivery and design of training and development of people for Crypto-Asset Risk Management
• Digital Asset Centre of Excellence Stakeholders.
• Business partners and Crypto Asset Initiative leads within the Group
• Members of the Risk Teams
• Risk Framework Owners delegates
• Embed Here for good and Group’s brand and values in Crypto-Asset Risk Management team
• Support the Group’s Crypto-Asset Strategy and activities.
• Assist in delivering a strategic risk assessment of the Group’s Crypto-Asset activities, including consideration for Crypto-Assets in Risk Appetite by relevant Principal Risk Types Risk Framework Owners, and the associated risk returns for its Crypto-Asset activities.
• Review the strategic intent and collective agenda for Crypto-Asset Risk Management Approach
• Partner with stakeholders and Crypto-Asset Risk subject matter experts on thinking and approach for Crypto Asset activities, including situations where the Group seeks to engage clients heavily exposed to Crypto-Assets
• Work with individual Crypto-Asset activities to the frame the Group’s Crypto-Asset business strategy and execution within the risk return framework and parameters.
• Assist the business to undertake appropriate evaluations with regards to Crypto-Asset stress scenarios with support from the Group Treasury and Group Stress Testing teams as required.
• For Crypto-Assets initiatives, support, inter-alia, the:
o Development of the risk assessments for any planned business direct exposure to crypto-assets and/or entities heavily exposed to crypto-assets.
o Required Crypto-Asset risk reviews:
Provide Subject matter expertise on Crypto-Asset risks and their interactions to core banking Business risks (across CCIB/Retail/Private) at Business Risk Management Committees e.g. New Payments Method Operating Committee
Deliver Risk Due Diligence reviews and challenge on Business Crypto-asset clients, products, and initiatives to ensure adherence to CARMA.
Evaluate Crypto-Asset risk assessments for confirmation by existing business authorities
Direct and endorse notification requirements to relevant regulators
o Work with Group’s Crypto-Asset activity teams and activities including development and implementation of appropriate infrastructure to support Crypto-Asset reviews, and the monitoring of exposures and actions as required.
I am responsible for the following:
• Supporting the governance forum structure to provide effective risk oversight for Crypto-Assets that are inherent to Crypto-Asset activities within the Group. This will require engagement with .
• Delivering annual effectiveness reviews to identify improvement areas and implement necessary actions.
• Reporting on-going compliance with and effectiveness of the risk control environment and overall exposure and risk levels to Crypto-Assets
I am responsible for assisting the team to discharge Process Owner related responsibilities as defined in the ERMF:
• For processes within the Crypto-Asset Risk Management central function are identified and defined by Process Owners, and ensuring the completeness and accuracy of these identified processes and assessing risk controls; and
• Reviewing and assessing the risk profile of the Crypto-Asset Risk Management Function process universe.
Second line of defence responsibilities:
I am responsible for the overall second line of defence responsibilities related to Crypto-Asset risk management, which involves oversight and challenge of risk management actions including the following:
• Maintain and deliver the Crypto-Asset Risk Management Approach which sets out the approach to risk management and the control framework within which risks are managed and risk-return trade-offs are made. Identify material risk types that the Group may be potentially exposed arising from direct or indirect Crypto-Asset activities and direct Risk Framework Ownership to all such risk types. Ensure that the relevant first and second line owners understand and accept their risk management responsibilities. Ensure that policies and standards are adapted or created to address Crypto-Asset risks and training is available to staff (on a targeted basis).
• Working with Risk Framework Owners (“RFOs”) delegates who propose adequate risk appetite with Crypto-Asset risks evaluation for consideration and approval by the Board. Monitor compliance to Board approved risk appetite using the risk information report covering all principal risk-types; and highlight significant matters to the Group Chief Risk Officer (“GCRO”), senior management and senior risk committees.
Our Ideal Candidate
• Strong academic background
• Extensive experience in banking / financial services.
• Experience in emerging Crypto-Assets and emerging digital technology
• Broad experience across diverse business models within banking and Fintechs
• Strong expertise within risk management including governance and frameworks including proven verbal and written communication skills to the Board level.
• Strong understanding of crypto-assets and fintech industry trends / developments, risk implications and impacts on the financial sector
• Knowledge of key regulatory and supervisory frameworks. Ideal - direct experience of working closely with supervisors / regulators
• Strong stakeholder management, communication and influencing skills
• Programme/project management
• Experience paper writing for senior level committees.
• Creativity and appetite for continuous improvement
Apply now to join the Bank for those with big career ambitions. To view information on our benefits including our flexible working please visit our career pages.
How to Apply
Please visit - https://scb.taleo.net/careersection/ex/jobdetail.ftl?job=2000020405&lang=en to apply now and take the next step in fulfilling your potential.
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Diversity & Inclusion
Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.
Closing on 05 Feb 2021